Mumbai: Mahindra Electric Mobility on Wednesday unveiled a comprehensive technology and product roadmap that aims to produce 60,000 units of electric vehicles (EVs) per annum over the next two years period.
The company is a pioneer in the development and manufacture of EVs.
"We are investing in next generation EV technology solutions which will deliver longer range and higher speeds. We now plan to expand our production capacity of e-vehicles, looking to ramp it up from a mere 400 units monthly to over 1,000 units in next few months and 5,000 units a month over the next two years period," Mahindra Electric Chairman Pawan Goenka told reporters here.
"We are ramping up our investments towards developing the next generation of EV technologies and products that will cater to the smart cities. Mahindra Electric already sells E20 plus, e-Verito and e-Supro vehicles in the domestic market," Goenka said.
The company is now working on high-end products with high capacity battery, which will take 4-5 years to develop. It is also working on electric vehicles which will cover 300 km journey with much more powerful battery, he said.
The market for electric vehicles is not much in India, but given the thrust by the government the company is investing in capacity and technology so we are prepared for supplying the demand in future, he added.
"We are also launching a new three-wheeler unit in the next two months at our Haridwar plant, which will be widely used in metro cities. With increasing concerns over clean air, urban congestion and rising fuel import bills, electric mobility is set to become mainstream," he added.
According to Mahesh Babu, CEO, Mahindra Electric, "Our focus goes beyond just developing electric vehicles as we strive towards investing in next generation technology solutions and globally competitive products, to drive faster adoption of electric vehicles.
"With next generation of electric vehicles (EV 2.0) we have laid out a clear roadmap for electric mobility in India, at par with our global counterparts and are future ready to set out for the next phase of our EV journey".
EV 2.0 will see the company make investments to ramp up manufacturing and charging infrastructure and to develop new, high-end electric powertrains, motor controllers, systems integration and battery technology.
The company is working on e-vehicles ever since it acquired Bengaluru-based electric carmaker Reva in 2010.